HB 987: Public Deposits
GENERAL BILL by Botana
Public Deposits; Provides requirements for credit unions that are qualified public depositories; provides that public deposits in credit unions by specified trust departments or trust companies are exempt from certain requirements & protection; prohibits CFO from designating credit unions as qualified public depositories unless certain requirements are met; requires CFO to withdraw from specified collateral agreements under certain circumstances; prohibits credit unions from being designated as qualified public depositories if CFO withdraws from collateral agreements; requires specified credit unions to return all public deposits in credit unions within specified timeframe; authorizes CFO to limit amount of public deposits in credit unions for specified purpose; provides requirements for suspension or disqualification of credit unions as qualified public depositories; authorizes CFO to issue cease & desist order & corrective order to credit unions upon certain determinations.
Last Action: 5/5/2023 House - Died on Second Reading Calendar
Bill Text: PDF
Bill History
| Date | Chamber | Action |
|---|---|---|
| 2/21/2023 | House |
• Filed |
| 2/28/2023 | House |
• Referred to Insurance & Banking Subcommittee • Referred to State Administration & Technology Appropriations Subcommittee • Referred to Commerce Committee • Now in Insurance & Banking Subcommittee |
| 3/7/2023 | House |
• 1st Reading (Original Filed Version) |
| 3/10/2023 | House |
• Added to Insurance & Banking Subcommittee agenda |
| 3/14/2023 | House |
• Favorable by Insurance & Banking Subcommittee |
| 3/15/2023 | House |
• Reported out of Insurance & Banking Subcommittee • Now in State Administration & Technology Appropriations Subcommittee |
| 4/10/2023 | House |
• Added to State Administration & Technology Appropriations Subcommittee agenda |
| 4/12/2023 | House |
• Favorable by State Administration & Technology Appropriations Subcommittee • Reported out of State Administration & Technology Appropriations Subcommittee • Now in Commerce Committee |
| 4/13/2023 | House |
• Added to Commerce Committee agenda |
| 4/18/2023 | House |
• Favorable by Commerce Committee • Reported out of Commerce Committee • Bill released to House Calendar • Added to Second Reading Calendar |
| 5/5/2023 | House |
• Died on Second Reading Calendar |
